ACCT1501 ACCOUNTING AND FINANCIAL MANAGEMENT 1A · PDF fileACCT 1501 Accounting and Financial...

Australian School of Business School of

ACCOUNTING

Australian School of Business School of Accounting

ACCT1501

ACCOUNTING AND FINANCIAL

MANAGEMENT 1A

COURSE OUTLINE SEMESTER 2, 2011

TABLE OF CONTENTS

PART A. COURSE SPECIFIC INFORMATION 1

1. STAFF CONTACT DETAILS 1

2. COURSE DETAILS 2

2.1. Teaching Times and Locations 2

2.2. Units of Credit 2

2.3. Summary of Course 2

2.4. Course Aims and Relationship to Other Courses 2

2.5. Student Learning Outcomes 3

3. LEARNING AND TEACHING ACTIVITIES 4

3.1. Approach to Learning and Teaching in the Course 4

3.2. Learning Activities and Teaching Strategies 5

4. ASSESSMENT 6

4.1. Formal Requirements 6

4.2. Assessment Details 7

5. COURSE EVALUATION AND DEVELOPMENT 11

6. COURSE RESOURCES 11

7. COURSE SCHEDULE 13

PART B. KEY POLICIES, STUDENT RESPONSIBILITIES AND SUPPORT 1

1. ACADEMIC HONESTY AND PLAGIARISM 1

2. STUDENT RESPONSIBILITIES AND CONDUCT 1

2.1. Workload 1

2.2. Attendance 1

2.3. General Conduct and Behaviour 1

2.4. Occupational Health and Safety 2

2.5. Keeping Informed 2

3. SPECIAL CONSIDERATION AND SUPPLEMENTARY EXAMINATIONS 2

4. ADDITIONAL STUDENT RESOURCES AND SUPPORT 3

ACCT 1501 Accounting and Financial Management 1A 1

PART A. COURSE SPECIFIC INFORMATION 1. STAFF CONTACT DETAILS

Position Name Email Location Phone

Lecturer-in-charge (LIC)

Dr. Youngdeok Lim [email protected] QUAD 3069 9385 6081

Lecturer Dr. Tami Dinh Thi [email protected] QUAD 3100 9385 5843

Lecturer Dr. Wei Chen [email protected] QUAD 3118 9385 9697

All questions or queries to do with course administration, homework or course content which are of a general nature i.e. that would benefit other students MUST be posted on the Discussion Boards on Blackboard (the electronic course management tool). For other questions of a personal nature please sent your correspondence to the ACCT1501 course email box address: [email protected] and for any general communication with staff on this course. Your email will then be forwarded to the appropriate person to deal with your enquiry. For face-to-face communication each member of staff will be available for up to two hours per week for you to consult with on a drop-in basis. You are encouraged to seek help during these consultation times at whichever of those times is convenient to you from any ACCT1501 staff member during their regular consultation hours. ACCT1501 tutors will also provide one hour of consultation each week from week 3 onwards. In special circumstances, an appointment may be made outside regular consultation hours. The staff consultation timetable is posted on staff office doors and on Blackboard at http://telt.unsw.edu.au. Please check the timetable for room locations and note individual consultation hours may vary occasionally. During consultation times attention to students will be prioritised as follows: first preference is given to students attending the staff member’s office; second preference is given to phone calls made during staff members nominated consultation time, followed by email inquiries (of administrative nature only). Any email inquiry that can be answered by reading the course outline or an announcement made on Blackboard will not be responded to. Staff will not conduct any consultations by e-mail. It is also not possible for staff to respond to students who drop-in outside of their regular consultation hours or a previously arranged appointment. We strongly encourage you to use the Blackboard discussion area to ask and answer questions. Students are encouraged to assist each other, learning from and teaching each other is a great way to consolidate your own knowledge. A member of the teaching team will oversee your responses and ensure the information provided is accurate and appropriate. But we encourage you to actively assist each other to learn. Please note that appropriate written etiquette must be observed when conducting any written communication with both staff and students on both Blackboard and UNSW’s email system. When sending an email to a staff member, you must identify yourself clearly using both your student ID and your full name. Communications that use short hand and “SMS” language are not acceptable, and you must communicate using English. Any e-mail communication must be made from your University of New South Wales student account, not from another provider (i.e. Hotmail, Yahoo, Gmail,


etc). Non-compliant emails will not be answered. This rule is instituted to help protect the university email system from viruses.

2. COURSE DETAILS 2.1. Teaching Times and Locations

It is essential that you attend the lecture and tutorial in which you are formally enrolled. All lectures and tutorial spaces have been allocated. If you attend a different time slot, there may not be a seat available.

LECTURE SERIES DAY TIME THEATRE A Tuesday 11:00 – 13:00 CLB 7 B Tuesday 18:00 – 20:00 CLB 8 Tutorial times and locations can be found on Blackboard. 2.2. Units of Credit ACCT 1501 Accounting and Financial Management 1A provides 6 units of credit. 2.3. Summary of Course ACCT1501 is one of the first year core units in the undergraduate business program. It is the first course in a sequence of courses dealing with the profession and practice of accounting. It illustrates the analysis and design of a financial accounting system which processes financial data and produces financial reports geared to the information needs of interested parties. It starts with the introduction of the financial statements, and then details the working of the full accounting cycle, the contents of annual reports and concludes with a brief introduction to management accounting and cost volume profit (CVP) analysis. Additionally more specific topics such as cash holdings and receivables, inventory, and non-current assets are discussed. It introduces students to the design of accounting systems based on double-entry book-keeping and incorporating other internal controls; the problems of accounting for cash, debtors, inventories and property plant and equipment. It also provides a critical introduction to the ideas underlying accounting practice and to issues associated with the uses and limitations of traditional financial reports. The course examines the differences between financial accounting and management accounting and focuses on the use of management accounting information and CVP analysis. 2.4. Course Aims and Relationship to Other Courses The primary aim of Accounting and Financial Management 1A is to provide students with an introduction to the process and function of financial reporting. Whilst a large proportion of the course is aimed at understanding accounting as a process, taking a preparer’s perspective, we will also seek to develop an understanding of the importance of the role of accounting in today’s society by discussing relevant cases and issues reported in the media.


This course is offered by the School of Accounting and may form part of an accounting major, double major or disciplinary minor within the Bachelor of Commerce or Bachelor of Economics degrees. This course also constitutes part of the core curriculum of studies required by CPA Australia and the Institute of Chartered Accountants in Australia (ICAA). Accounting and Financial Management 1A forms an integrated study program designed to give students an understanding of the way in which financial information is generated and used. Many students undertaking this course will study accounting as a major and will undertake Accounting and Financial Management 1B. Accounting and Financial Management 1A (ACCT1501) is concerned with the design and analysis of accounting information systems. The assumptions and choices made in the design of an accounting system are explored with particular attention given to financial reporting to external stakeholders and management accounting which revolves around reporting to internal stakeholders of the business. Accounting and Financial Management 1B (ACCT1511) introduces cash flow statements and considers issues such as recognition and disclosure of financial statement elements, professional ethics, and accounting policy. In addition to the preparer’s perspective, it also considers the perspective of a user of financial information with an introduction to financial statement analysis and managerial decision making.

Taken together, the first year accounting courses seek to develop: technical competence in recording economic events in the accounting system; a critical understanding of key technical terms and concepts so as to interpret accounting information and reports in the financial press; an ability to argue a reasoned position on key questions of accounting theory and practice; and familiarity with institutional structures that affect the practice of accounting.

2.5. Student Learning Outcomes

Content-based Learning Outcomes As a result of satisfactorily completing this course, you should be able to:

i. Comprehend the language of accounting and financial reporting;

ii. Demonstrate an understanding of the relationship between components of financial reporting;

iii. Develop an extensive understanding of the accounting cycle and the operation of accounting information systems and their ethical implications and clearly articulate this in class participation;

iv. Identify, define and record events affecting a business’ financial statements demonstrating technical competence;

v. Become familiar with the financial media and its reporting of the public discussion of accounting issues and reporting of financial results of companies;

vi. Understand and distinguish between reporting to external and internal users of accounting information;


vii. Perform cost volume profit techniques to provide useful information to internal stakeholders.

Desired Skill-based Outcomes As a result of satisfactorily completing this course, you should have the opportunity to:

viii. Develop the skills to learn autonomously and to assume responsibility for your own learning process and complete independently an on-line assessment task;

ix. Develop critical thinking skills in analysing, communicating and presenting arguments based on accounting information;

x. Develop problem solving skills to find solutions to tasks relating to accounting application in the practice of accounting.

ASB Graduate Attributes

This course contributes to your development of the following Australian School of Business (ASB) Graduate Attributes, which are the qualities, skills and understandings we want you to have by the completion of your degree. The ASB Graduate Attributes are listed below. A full description of the Graduate Attributes identified by the ASB is available on the Course website under the Graduate Attributes link

Course Learning Objectives ASB Graduate Attributes All 1. Critical thinking and problem solving i, ii, iii, iv, v, vi, vii, ix, .x. 2. Communication oral and written Iii 3. Teamwork and leadership iii, v, x 4. Social, ethical and global perspectives iii, v, ix, x 5. In-depth engagement with relevant

disciplinary knowledge vi, viii, ix, x, 6. Professional skills

More information on the ASB Graduate Attributes and how they align with the UNSW Graduate Attributes (2010) is available on the ASB website (Learning and Teaching >Graduate Attributes).

3. LEARNING AND TEACHING ACTIVITIES 3.1. Approach to Learning and Teaching in the Course At university, the focus is on your self-directed search for knowledge. The teaching team will provide lectures, tutorials and other resources in order to help your learning experience. It is up to you to choose how much work you do in each part of the course: preparing for classes; completing assignments; studying for exams; and seeking assistance or extra work to extend and clarify your understanding. You must choose an approach that best suits your learning style and the goals you set for yourself in this course. Preparation, tutorial and additional self study questions are provided to guide your learning process. Furthermore we offer this key advice:


Understand rather than memorise Take responsibility for learning rather than blaming others for failure

Explore and test ideas rather than limit yourself to facts Work collaboratively with others rather than compete with peers

Enjoy the experience and you cannot fail1

The teaching team has put a great deal of thought into the development and presentation of the teaching materials and assessments so students may experience a flexible but directed introduction to accounting. The team is here to provide the support to enable you to succeed but you are in control of your own learning experience and as such your destiny. 3.2. Learning Activities and Teaching Strategies The course consists of lectures and tutorials.

Lectures Each student is required to register for a lecture time via the NSS system, accessed through the myUNSW portal. There are two hours of lectures per week, which are held in two hours block throughout the week commencing week 1 until week 12. In consideration to other students please: arrive on time, turn off your mobile phones, attend your registered lecture and refrain from distracting or disruptive behaviour when the lecturer is presenting. You will also be expected to participate in the activities in the lecture which have been carefully designed to enhance your learning and understanding of the subject material. The purpose of lectures is to introduce and explain concepts that are critical to the core themes of the course. In order to maximise the benefits of attending lectures, students are expected to read the relevant study materials thoroughly before attending lectures. Copies of the lecture notes will be available before the lecture for you to download and bring to class. Students are expected to take notes during the lecture. Additional lecture notes or slides (i.e. additional to the content on blackboard) will not be provided after the lecture. Lecturers will provide in-class worked examples of exam type problems and engage students in class discussion. The model of teaching in lectures is an interactive one, so ensure you attend lectures prepared to contribute and participate in small group discussion and seek clarification if you don’t understand something. We will also use in-class real-time quizzes. Each time you have a lecture you will be required to pick up a keypad when you enter the lecture theatre, use it during the lecture session and return the keypad at the end of the lecture session to one of the boxes in the lecture room. We will also provide a podcast of the lecture material which will be made available to you after the week’s lectures. But we suggest this may not be an effective substitute for the face-to-face interaction in a real-time lecture setting and we recommend you use it as an additional study resource. Other than the podcast resource the school provides, lectures may not be recorded or reproduced without the written consent of the lecturer.

1 From “The First Year Experience”, Ann Game and Andrew Metcalfe, Federation Press, 2003. This book gives great advice on how to start, stay and succeed at uni.


Tutorials Each student is required to register for a tutorial group via the NSS system, accessed through the myUNSW portal. Tutorials are one hour per week and will be held each week from weeks 2 to 13. Students must attend the tutorial they have been formally allocated. The tutorials constitute the core learning experience of this course. During tutorials, students will be encouraged to discuss and critique accounting concepts and problems in a team learning environment, and to discuss and present their findings to the rest of the class. It is essential that, prior to a tutorial, you read the relevant course materials and prepare written responses to all questions assigned. In AFM1A we set two types of questions; preparation questions and tutorial questions (all questions must be attempted before your tutorial session). All students are expected to complete the preparation questions and check their solutions prior to attending tutorials. The solutions to the preparation questions will be posted on Blackboard by the end of the week prior to the tutorial being held. If you have any queries or problems with the preparation questions and the solutions provided you should raise this in your tutorial or see your tutor in consultation time. Tutorial questions should also be attempted prior to your tutorial session and will be discussed in the tutorial time. You are expected to prepare for the tutorial questions and you must read the case studies prior to the tutorial session and bring a written answer to the tutorial session so that you can contribute to the class discussion. Lack of preparation is one of the most common reasons why students fail this course and it will impact your overall success in this course as 5% of the total marks for the course are dependent on your tutorial preparation and contribution in class. The solutions to the tutorial questions will be posted on Blackboard at the end of the week after they have been discussed in class.

Self Study Self study is a key element of the learning design of this course. From time to time, self study materials will be posted on Blackboard to facilitate deeper learning of core elements of the course. The aim of these self-study questions is to encourage students to assume responsibility in their learning process, and to make the tutorials more effective. Thus, the onus is on students to review and complete these materials. The teaching team will be available in consultation hours to assist with difficulties

experienced with self study materials. 4. ASSESSMENT 4.1. Formal Requirements To be eligible for a passing grade in this course, students must: (a) Achieve a composite mark of at least 50% AND

(b) Satisfactorily complete all assessment tasks (or submit appropriate documentation relating to your failure to complete a task to the Lecturer-in-Charge) AND

(c) Achieve a satisfactory level of performance in the final exam. This usually means a minimum mark of 50%. Any student having an overall mark of 50 or more but less than 50% in the final examination will fail the course.


Please note that there will only be ONE supplementary exam which will be held 30th November 2011. It is the student’s responsibility to ensure that he or she is available on the date of the supplementary exam (see Part B.3 for supplementary exam information). A “pass conceded” (PC) grade may only be granted by the Australian School of Business Assessment Committee, and not the Head of School, Course Coordinator or Lecturer-in-Charge. Please do not approach the Lecturer-in-Charge seeking a PC grade as it is beyond the scope of the LIC’s role and authority.

4.2. Assessment Details The composite mark for ACCT1501 will be calculated as follows.

Assessment Task

Weighting Learning Outcomes assessed

ASB Graduate Attributes assessed

Due Date

Tutorial Participation

5% Content-based outcomes i - vii, Skill-based outcome ix & x.

1, 2, 3, 4, 5 & 6.

Weeks 2-13

Multiple Choice On-line Quiz

10% Content-based outcomes i - vii, Skill-based outcome viii

1 & 6. Weeks 5 & 12

Mid-session Test

15% Content-based outcomes i -iv. Skill-based outcome ix & x.

1, 2, 4 & 5. Week 7

On-Line Practice Set

10% Skill-based outcomes ii, iii, vi, viii & x.

1 & 6. September 30th at 3pm

Final examination

60% All Content-based outcomes and all Skills-based outcomes except x.

1, 2, 4, 5 & 6 Exam Period October 28

th -

November 15th

TOTAL 100%

Tutorial Participation (5%) (Weeks 2 - 13) It is essential that you attempt all questions and have a written answer to the ASSIGNED CASE STUDY before your tutorial. Your preparation and participation mark is dependent on your effort to prepare for tutorial class AND your participation in class discussions. It is expected that you will have attempted all the questions both preparation and tutorial questions before your tutorial. Tutors will check your homework attempt during the class. Students will be (randomly) asked individually or in groups to present tutorial questions or respond to tutor questions. Participation is not necessarily about having the right answers. Tutors will also consider your willingness to ask relevant questions to clarify points. Good participation also involves listening to your fellow students.

To obtain a class participation mark, you must attend the tutorial in which you are enrolled. If you do not attend the tutorial class in which you are officially enrolled, you will not receive a mark.


Marking Guide for Tutorial Participation

Attendance 1 mark

If a student has below 80% of attendance as required by UNSW and ASB rules they will receive 0 marks. Attendance at 9 out of 12 tutorials will be deemed as meeting the requirement. Students MUST arrive at the tutorial room within 10 minutes from the start of the tutorial session to qualify as ‘in attendance’.

Tutorial homework

2 marks

In order to encourage students to prepare for tutorial classes each week, your tutor will randomly choose 3 weeks to review your written answers to the assigned tutorial questions and preparation questions and mark the best 2 weeks. Each review is worth a maximum of 1 mark. While the answers need not be 100% correct to receive full marks, you are expected to make a satisfactory attempt at answering ALL of the homework questions to receive 1 mark.

Tutorial participation

2 marks

If a student has attended 10 -12 tutorials, prepared for class including a written answer to the case studies AND contributed to class discussion in a constructive way they will receive a maximum of 2 marks depending on their contribution.

Mid-Session Exam (15%) (Week 7) The mid-session class test has been designed to test your knowledge and understanding of basic accounting concepts, journals, and the preparation of basic financial statements. The mid-session test will be conducted in the tutorial sessions in Week 7. The exam will be 45 minutes in duration and will consist of questions from materials in lectures 1 to 5. The format of the exam will consist of calculative questions, the preparation of adjusting journals, and financial statements. Further details about the exam content and format will be provided nearer the time.

Students must sit the exam in the tutorial class in which they have been enrolled.

There will be a very limited opportunity to sit a supplementary exam for the mid-session test. In exceptional circumstance an alternative arrangement may be provided. To apply for this, complete a special consideration form and submit it to the LIC. For further information see Part B. 3 regarding qualifying for supplementary exams.

Multiple Choice On-line Assessment Quizzes (10%) (Weeks 5 and 12) In order for you to check your progress at an early stage in this course, an on-line assessment quiz will be conducted by the end of week 5 via Blackboard. The quiz will consist of 30 multiple choice questions. It is recommended to be completed in 60 minutes; however there will be no official time limit. You will have only one attempt at the quiz and your results will be available to you immediately on-line. You can use the results as a guide to assess your understanding of the course materials.

One further on-line quiz will be conducted at the end of week 12 to provide you with continuous feedback. Each quiz will be worth 5% so that the two quizzes will be worth 10% of the overall assessment for this course.

We will provide a self-study practice quiz in order for you to familiarise yourself with the format and functionality of the ACCT1501 on-line quiz. We have also attached a detailed instructions sheet with this course outline for your information and convenience. A softcopy will also be available on blackboard. The instruction sheet provides you with details of when and how to complete the quiz, what material will be


covered in each quiz and what to do if you have technically difficulties when submitting the quiz. Please ensure you read these instructions carefully as there will only be very limited opportunities’ to submit the on-line quiz and submission dates and times are very strict.

Practice Set (10%) (Week 10)

A practice set is a comprehensive accounting exercise designed to integrate your knowledge of accounting systems and the accounting cycle. The practice set used in this course is the Perdisco online practice set.

This task is expected to take approximately 20 working hours to complete. The practice set will be made available to you around week 4 when we have covered a sufficient amount of the course material to enable you to commence the tasks. As we continue to introduce new topics to you, it will be possible to complete further components of the practice set. When you have sufficient information you can start working on this exercise although it is not recommended that you begin before you have adequate knowledge to answer the questions. For the average student you will have sufficient knowledge to commence the practice set by week 6. You must manage your time to ensure you will be able to complete it by the due date.

The practice set is designed to test the following criteria: your technical competence and understanding of the accounting cycle and operation of an accounting information system; and your ability to identify and accurately record events and post them correctly to the appropriate accounts; prepare a bank reconciliation and month end accounts. Once you have submitted your answers on-line you will be provided with immediate performance feedback and a final score.

How to access the Perdisco online practice set Students are required to purchase and complete an online practice set that will count towards the overall assessment mark for this unit. The practice set has been designed to provide students with experience in the practical and technical skills essential to accounting, through the completion of a one month accounting cycle for a fictional business. The practice set will provide each student with a unique accounting scenario and therefore must be completed on an individual basis. Submission is to be completed online; however it is possible to print various parts of the practice set for offline calculation. Once submitted, the practice set will provide immediate performance feedback and a final score. The online practice set is available from within your Perdisco account. To purchase the practice set, please: 1. Create a new account at www.perdisco.com.au/students

2. Once registered, click ‘Add a product to my account’

3. Select your course code ACCT1501, campus and study period from the available options

4. Click on ‘How do I pay?’ for the payment options available.


5. Ensure you register with your correct student identity number (SID). If you do not provide your correct SID number we may not be able to apply your score to your student records and therefore your final results for this course.

6. You must register to complete the Perdisco Practice Set only once. To register to undertake the Practice Set more than once is effectively cheating and therefore student gross misconduct. You will be reported to the faculty for this breech of conduct and receive zero of this assessment task.

Payment can be made by credit card, cheque, money order or BPAY. Please allow up to 5 working days for some payment methods to be processed. In the interest of student access and equity, virtual ‘library copies’ of the practice set are provided through an Electronic Special Reserve (ESR) service on the Perdisco website for students who cannot afford to purchase their own copy. Like library books, they are limited by available hours and number of simultaneous users. To access these, you must first create an account, add the practice set to it and click on ‘ESR login’. For more information, click ‘ESR info’ after registration. ESR is available between the hours of 6 am - 10 pm EST. If you require any further information on ESR, you can click on the 'ESR info' link in their account. The ESR copies of the e-workbook are limited by time and number of users. Students logged in to the ESR have a time limit of 2 hours before they are logged out. When students try to login to ESR and all the ESR copies are being used, they will be able to see the usernames of the students logged in to ESR. Next to the usernames of the students currently logged in to the ESR copies, they will see an 'ESR return time'. This is the time at which that ESR copy of the e-workbook will become free again.

You must complete and submit your answers to the Perdisco online practice set by the end of week 10. The completion of the Perdisco practice set is due by the end of week 10 (Friday Sep 30th @ 3pm).

Please note given the nature of a computerised assignment – late submissions will not be accepted. Your mark will be based on the work completed by the deadline.

Final Examination (60%)

Students are required to sit for a final examination paper in this course. The final exam criteria will test your technical competence and accuracy in problem solving, your understanding of accounting concepts and ability to critically analyse and articulate your understanding of accounting issues. Students will be advised of the general format and content of the final examination during the lecture in Week 12.

Quality Assurance The ASB is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of ASB programs. All material used for such processes will be treated as confidential and will not be related to course grades.


5. COURSE EVALUATION AND DEVELOPMENT

Each year feedback is sought from students and other stakeholders about the courses offered in the School and continual improvements are made to courses based on this feedback. UNSW's Course and Teaching Evaluation and Improvement (CATEI) Process is one of the ways in which student evaluative feedback is gathered. Consequently significant changes to courses and programs within the School are communicated to subsequent cohorts of students. We will ask students to complete evaluations on-line to provide overall feedback about the course in general and make constructive comments concerning how we could improve the course. An example of previous feedback requested more timely feedback and assessment on how students are progressing through the course.. We also seek feedback regarding our individual lecturers’ and tutors’ on their large and small group teaching. You will also be asked to complete a hardcopy survey form in lectures and tutorials which are independently analysed and forwarded to the lecturers after the end of the semester when all exams have been marked and results released. This information is invaluable as it is used in our personal and professional development, discussed with our Head of School and used to further improve and develop both staff and courses.

6. COURSE RESOURCES Student Resources

There are three required resources for AFM1A.

The required textbook for first-year courses in Accounting (AFM1A and 1B) is:

1. Trotman, K. & Gibbins, M., 2009 Financial Accounting: An Integrated Approach, 4th edition, Melbourne: Thomson Nelson ITP. This is the most recent edition and any previous editions cannot be used as a substitute.

2. You are required to access the course material that will be posted on Blackboard which will cover lecture topics, additional assigned tutorial questions and solutions and additional reading materials. You will need these on-line resources particularly the management accounting topics in weeks 11 and 12.

3. You are also required to complete the online practice set by Perdisco.

We also highly recommend the following Study Guide to assist your learning (you are not required to purchase this book; it is an optional additional resource).

Study Guide to Financial Accounting: An Integrated Approach 4th Edition by Ken Trotman, Elizabeth Carson and Deborah Delaney, 2009

Reference Books

The following reference books are listed as other sources you might wish to consult. You do not have to purchase these books; they are available in the UNSW Library.


Anthony, R.N. & Pearlman, L.K., 2000, Essentials of Accounting, Upper Saddle River, NJ: Prentice Hall

Carlon, S., Mladenovic, R., Loftus, J., Palm, C., Kimmel, P., Kieso, D. E., & Weygandt, J.J., 2009, Accounting, building business skills, Milton, Qld: John Wiley & Sons (3rd edition)

Deegan, Craig. 2010. Australian Financial Accounting, 6th Edition, North Ryde: McGraw Hill Australian Pty Ltd Hoggett, J., Edwards, L. & Medlin, J., 2006, Accounting in Australia, Milton, Qld: John Wiley & Sons (6th edition)

Jackling, B., Raar, J., Wigg, R., Williams, B. & Wines, G., 2004, Accounting: A Framework for Decision Making, Sydney: McGraw Hill

Hussey, R. (ed.), 1999, A Dictionary of Accounting, Oxford: Oxford University Press

If you decide to continue with studies in accounting, you may find it useful to purchase the following book, which describes and assists with acquiring the skills required of accounting graduates:

Sin, S. & Jones, A., 2003, Generic Skills in Accounting, French’s Forest, NSW: Pearson Education Australia.

Course Website A course website will be maintained within the Blackboard environment. You are required to have a student number and zpass to access this website at http://telt.unsw.edu.au. In addition, you must be enrolled in the course to access the website. The website will contain important announcements, copies of lecture notes, the solutions to the weekly preparation and tutorial questions and other material deemed suitable by the Lecturer-in-charge from time to time. We cannot place any material on the website that involves the use of student IDs or that which raises issues with respect to privacy. If you need help getting started or using Blackboard then go to http://support.elearning.unsw.edu.au/content/student_default.cfm?ss=3.


7. COURSE SCHEDULE

Week Week

Beginning Lecture Topics Preparation Questions*

Tutorial Questions*

1 July 18th 1. Introduction to Financial Accounting & Key Financial Statements (Ch 1) Lecturer: Youngdeok

No Tutorial classes this week

2 July 25th 2. Measuring & Evaluating Financial Position & Performance. (Ch 2) Lecturer: Youngdeok

DQ 1.1, 1.2, 1.3, 1.7,

P1.6, P1.7, P1.16,

C1A (1-7)

DQ 1.12, 1.16,

P1.15, P1.25

3 August 1st 3. The Double Entry System (Ch 3) Lecturer: Youngdeok

DQ 2.1, 2.6,

P2.17, C2A

DQ 2.10, P2.7, P2.22, P2.27

4 August 8th 4. Record-Keeping (Ch 4) Lecturer: Tami

DQ3.3, 3.4,

P3.1, P3.25, P3.30

DQ3.5, 3.7,

P3.4, P3.15, P3.18

5 August 15th 5. Accrual Accounting Adjustments (Ch 5) Lecturer: Youngdeok

DQ 4.2, 4.6, 4.7,

P4.4, P4.5, P4.13

DQ 4.15, 4.16,

P4.14, P4.17, Case 4A

On-line Quiz 1: August 19th – 26th

6 August 22nd 6. Special Journal, Subsidiary &

Control Accounts (Ch 5, Appendix) Lecturer: Youngdeok

DQ 5.1, 5.3, P5.7(except part 3), P5.8

DQ 5.5, 5.8, P5.12, P5.14, P5.19,

Case 5A

Mid Session Class Test in Tutorial time slots - Week beginning August 29th. Students must attend their scheduled tutorial time.

7 August 29th 7. Internal Control, Bank Reconciliation & Accounts Receivable (Ch 5 & Ch 7) Lecturer: Wei

Self Study Revision Mid Session Test in tutorial session

Mid Session Break: September 5th to September 9

th

8 September 12th

8. Introduction to Inventory and Non-Current Assets (Ch 8 & 9) Lecturer: Wei

DQ 7.2, 7.6, 7.8, 7.9 , 7.11, P7.5, P7.11,

AQ2 in Lecture Notes on Blackboard

PA5.3, P7.18, AQ3 in Lecture Notes

on Blackboard

9 September 19th

9. Financial Reporting Principles, Accounting Standards and Auditing, and Introduction to Cash Flow Statements (Ch 6) Lecturer: Wei

DQ 8.1, 8.2, DQ 9.1, 9.2, 9.16,

P8.3, P8.7, P9.4, P9.6,

Case 9A (parts 1 – 6)

DQ 8.8, P8.4, P8.9, P9.14

10 September 26th

10. Financial Statement Analysis – Basic (Ch 14) Lecturer: Tami

DQ 6.1, 6.2, 6.12, 6.13,

P6.9, P6.11, P6.18, P6.19, P6.24

DQ 6.3, 6.11, P6.5, P6.22, Cases 8B

Practice Set Assignment (10%) is due this week (Friday September 30th@ 3pm)

11 October 3rd 11. Management Accounting: Introduction and Cost Concepts Lecturer: Tami

DQ 14.4, 14.5, 14.6, 14.9,

P14.4 , P14.11, P14.17

DQ 14.1, 14.3, P14.6, P14.16, Case

14A

12 October 10th

12. Management Accounting: CVP Analysis Lecturer: Tami

P16.1, P16.5 (part 1 & 2 only) P16.7 part 1 only (i.e. do not do 2 & 3) Case: Vincent’s Cappuccino

Express

On-line Quiz 2: October 14th – 21st

13 October 17th

P16.4 (ignore cost driver Case: YCube Ltd,


Guide to preparation and tutorial questions: The majority of preparation and tutorial questions can be found in Trotman & Gibbins edition 4 and appear at the end of each chapter:

DQ refers to Discussion Questions, P refers to Problems and C refers to Cases that can be found in the textbook at the end of each chapter. Appendices to Chapters 5 and 10 are referred to as A5 and A10, AQ refers to a past exam questions which will be available with your lecture notes posted on Blackboard.

For example, DQ1.1 is Discussion Question 1 in Chapter 1; P9.13 is problem question 13 in chapter 9, and C6B is found at the end of chapter 6, case B. We will also provide further additional questions for revision and purposes towards the end of semester. Do not seek past exam papers from the library as this course has significantly changed and previous exam papers are not relevant to the current course curriculum. We will provide you with ample opportunity to practice exam type questions throughout the semester to ensure you are exam ready and enabled to be successful in this course.

column), P16.11 P16.16

Study Period: October 24th to October 28th

Final Examination Period: October 28th to November 15

th

Supplementary Examination: November 30th


PART B. KEY POLICIES, STUDENT RESPONSIBILITIES AND SUPPORT 1. ACADEMIC HONESTY AND PLAGIARISM

The University regards plagiarism as a form of academic misconduct, and has very strict rules regarding plagiarism. For UNSW policies, penalties, and information to help you avoid plagiarism see: http://www.lc.unsw.edu.au/plagiarism/index.html as well as the guidelines in the online ELISE and ELISE Plus tutorials for all new UNSW students: http://info.library.unsw.edu.au/skills/tutorials/InfoSkills/index.htm.

To see if you understand plagiarism, do this short quiz: http://www.lc.unsw.edu.au/plagiarism/plagquiz.html

For information on how to acknowledge your sources and reference correctly, see: http://www.lc.unsw.edu.au/onlib/ref.html

For the ASB Harvard Referencing Guide, see the ASB Referencing and Plagiarism webpage (ASB >Learning and Teaching>Student services>Referencing and plagiarism)

2. STUDENT RESPONSIBILITIES AND CONDUCT Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed. Information and policies on these topics can be found in the ‘A-Z Student Guide’: https://my.unsw.edu.au/student/atoz/A.html. See, especially, information on ‘Attendance and Absence’, ‘Academic Misconduct’, ‘Assessment Information’, ‘Examinations’, ‘Special Consideration’, ‘Student Responsibilities’, ‘Workload’ and policies such as ‘Occupational Health and Safety’.

2.1. Workload It is expected that you will spend at least ten hours per week studying this course. This time should be made up of reading, research, working on exercises and problems, and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater.

Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

2.2. Attendance Your regular and punctual attendance at lectures and seminars is expected in this course. University regulations indicate that if students attend less than eighty per cent of scheduled classes they may be refused final assessment.

2.3. General Conduct and Behaviour You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class. More information on student conduct is available at: https://my.unsw.edu.au/student/atoz/BehaviourOfStudents.html


2.4. Occupational Health and Safety UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others. For more information, see http://www.ohs.unsw.edu.au/.

2.5. Keeping Informed You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.

3. SPECIAL CONSIDERATION AND SUPPLEMENTARY EXAMINATIONS You must submit all assignments and attend all examinations scheduled for your course. You should seek assistance early if you suffer illness or misadventure which affects your course progress. General Information on Special Consideration:

1. For assessments worth 20% or more, all applications for special consideration must

go through UNSW Student Central

(https://my.unsw.edu.au/student/academiclife/StudentCentralKensington.html) and

be lodged within 3 working days of the assessment to which it refers;

2. Applications will not be accepted by teaching staff, but you should notify the

lecture-in-charge when you make an application for special consideration through

UNSW Student Central;

3. Applying for special consideration does not automatically mean that you will be

granted a supplementary exam;

4. Special consideration requests do not allow lecturers-in-charge to award students

additional marks.

Information for ASB Undergraduate Courses:

ASB Policy on requests for Special Consideration for Final Exams:

The policy of the School of Accounting is that the lecturer-in-charge will need to be satisfied on

each of the following before supporting a request for special consideration:

1. Does the medical certificate contain all relevant information? For a medical certificate

to be accepted, the degree of illness, and impact on the student, must be stated by

the medical practitioner (severe, moderate, mild). A certificate without this will not be

valid.

2. Has the student performed satisfactorily in the other assessment items? Satisfactory

performance would require all assessment tasks attempted and a satisfactory result

in each assessment item specified in the Course Outline and meeting the obligation

to have attended 80% of tutorials.

3. Does the student have a history of previous applications for special consideration? A

history of previous applications may preclude a student from being granted special

consideration.


Special Consideration and the Final Exam:

Applications for special consideration in relation to the final exam are considered by an ASB

Faculty panel to which lecturers-in-charge provide their recommendations for each request. If

the Faculty panel grants a special consideration request, this will entitle the student to sit a

supplementary examination. No other form of consideration will be granted. The following

procedures will apply:

1. Supplementary exams will be scheduled centrally and will be held approximately two

weeks after the formal examination period. The dates for ASB supplementary exams

for Session 2, 2011 are:

30 November 2011 – exams for the School of Accounting

1 December 2011 – exams for all Schools other than Accounting and Economics

2 December 2011 – exams for the School of Economics

If a student lodges a special consideration for the final exam, they are stating they

will be available on the above dates. Supplementary exams will not be held at any

other time.

2. Where a student is granted a supplementary examination as a result of a request for

special consideration, the student’s original exam (if completed) will be ignored and

only the mark achieved in the supplementary examination will count towards the final

grade. Failure to attend the supplementary exam will not entitle the student to have

the original exam paper marked and may result in a zero mark for the final exam.

If you are too ill to perform reasonably on the final exam, do not attend the final and apply for a

supplementary instead. However granting of a supplementary exam in such cases is not

automatic. If a student attends the regular final, s/he is unlikely to be granted a supplementary

exam.

The ASB’s Special Consideration and Supplementary Examination Policy and Procedures for Final Exams for Undergraduate Courses is available at: http://www.asb.unsw.edu.au/currentstudents/resources/forms/Documents/supplementaryexamprocedures.pdf.

Special consideration and assessments other than the Final exam: There will only be a very limited opportunity to sit a supplementary midsession class test and this must be (pre)approved by the LIC after the completion of a special consideration form with appropriate documentation either before or within 3 days of the actual class test date. No special consideration will be granted for the Perdisco on-line Practice Set or the on-line MCQ quizzes.

4. ADDITIONAL STUDENT RESOURCES AND SUPPORT

The University and the ASB provide a wide range of support services for students, including:

• ASB Education Development Unit (EDU)

http://www.asb.unsw.edu.au/learningandteaching/studentservices/Pages/default.aspx Academic writing, study skills and maths support specifically for ASB students. Services

include workshops, online and printed resources, and individual consultations. EDU Office:

Room GO7, Ground Floor, ASB Building (opposite Student Centre); Ph: 9385 5584; Email:

[email protected]

• Capturing the Student Voice: An ASB website enabling students to comment on any

aspect of their learning experience in the ASB. To find out more, go to the Current

Students/Resources/Student Feedback page here.


• Blackboard eLearning Support: For online help using Blackboard, follow the links from www.elearning.unsw.edu.au to UNSW Blackboard Support / Support for Students. For technical support, email: [email protected]; ph: 9385 1333

• UNSW Learning Centre (www.lc.unsw.edu.au ) Academic skills support services, including workshops and resources, for all UNSW students. See website for details.

• Library training and search support services: http://info.library.unsw.edu.au/web/services/services.html

• UNSW IT Service Centre: : https://www.it.unsw.edu.au/students/index.html

Technical support for problems logging in to websites, downloading documents etc.: UNSW Library Annexe (Ground floor); Ph: 9385 1333.

• UNSW Counselling and Psychological Services (http://www.counselling.unsw.edu.au) Free, confidential service for problems of a personal or academic nature; and workshops on study issues such as ‘Coping With Stress’ and ‘Procrastination’. Office: Quadrangle Building, Level 2, East Wing ; Ph: 9385 5418

• Student Equity & Disabilities Unit (http://www.studentequity.unsw.edu.au) Advice regarding equity and diversity issues, and support for students who have a disability or disadvantage that interferes with their learning. Office: Ground Floor, John Goodsell Building; Ph: 9385 4734


Australian School of Business School of Accounting

ACCT 1501: Accounting and Financial Management 1A

On-Line Quiz instructions

Please read carefully!

• There will be 2 separate quizzes each worth 5% of the total marks for the course and

equaling 10% of the total assessment marks for this course.

• Each quiz will be open for 1 week. Start on the Friday of weeks 5 & 12 and close on the

Friday of weeks 6 & 13.

• Each quiz will have 30 questions (5 % of your overall assessment) from the following

chapters .

o Week 5 - Quiz 1 based on Chapters 1, 2, 3, 4 & 5

o Week 12 – Quiz 2 based on Chapters 5A, 6, 7, 8, 9, 14 & Management accounting

• There will be no time constraint - we will not set a timer for this quiz although we

recommend you complete the quiz within 60 minutes.

• You will only have one attempt to complete and submit the quiz.

• The question sets are randomly allocated to each student. You will have different

questions to other students, but they will be the same level of difficulty. The questions are

all of equal value.

• The quiz will:

Open on Friday (19th

August, 14th

October) at 3pm until Friday (26th

August, 21th

October) at 3pm (each quiz is open for 1 week)

Do NOT leave it to the last day to complete the quiz as there will be

NO opportunity to complete the quiz once it has closed at 3pm on

Friday. • Similar to any other test once you begin your time will start; you will not be able to stop

the timer.

• There will be no penalty if you go over the recommended time.

• Do not leave your quiz until the last day.

• After the quiz has closed on the respective Friday at 3pm you will be able to access the

feedback and answers by checking ‘My Grades’ in Blackboard.


Important: Technical Difficulties – you must follow this process • If you experience technical problems with your submission i.e. your computer network

crashes or some other IT related problem please email [email protected] with

the details of the problem and the screen shot of the technical error message.

• This will be investigated and we will attempt to resolve the problem. Only emails from

your UNSW student email will be answered. Lecture staff will NOT handle these enquiries.

Do NOT email or phone the lecturing staff or tutors with this problem

• We will clear any quiz attempts which have had technical problems each day by 1 pm.

• You must lodge your request before 12noon on Friday if you require our assistance.

Requests received after that time will not be processed.

• We need at least 24 hours to investigate your problem and reset the quiz. Check your

submission the following day after 1pm


School of Accounting

Peer Assistance Support Scheme (PASS)

ACCT1501 – Accounting and Financial Management 1A Session 2, 2011

PASS is back for students in AFM1A.

What exactly is PASS?

Essentially PASS is an alternative forum for you to seek help with either the core

accounting subjects or university life. PASS is usually run by third year Accounting

Honours students. There will be one PASS leader for each group. Since it was not that

long ago that they were in the first year of university, they are a great source of

knowledge about how to adjust to university study and university life in general.

PASS is designed to be responsive to student needs. To get the most out of PASS, it is

important for you to think about what you need help with. If you come to PASS with

specific questions that you want answered I am sure you will have very happy PASS

leaders and will gain a lot from attending PASS.

It is important to note that PASS sessions are not additional tutorials. Thus, attending

PASS is not a substitute for attending lectures and tutorials. Rather PASS is an

opportunity to discuss issues of concern in a less formal environment than that of

lectures and tutorials. Further, it is often a great way to meet new people and build

your understanding of the subject.

Involvement in PASS is voluntary. You are not obligated to attend each week. That is,

you simply attend when it suits you.

The scheme will commence in Week 3 of the session (i.e., Monday 1st

August).

__________________

Dr. Leon Wong

PASS Co-ordinator


ACCT1501 PASS starts in Week 3

Group Day Time Location

1 Tuesday 2:00 – 3:00 EE 218

2 Tuesday 3:00 – 4:00 Quad G046

See Blackboard for further details!

Leader Name: Joshua

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